Here at BuyingForeignProperty, we have put together a simple guide to mortgages in top foreign countries for property investment. The guide covers whether foreign investors are able to source the mortgage abroad, what sort of rates to expect and any other general information the investor should be aware of.
Real estate – it’s the latest bandwagon that everyone wants to jump on to make a fast buck. But it’s really not that easy! Here at BuyingForeignProperty, we have put together a list of the 7 top tips every new investment property buyer should read.
It may seem slightly obvious, but when you are hiring a lawyer to handle your real estate transaction, it is important to pick one who specializes in property transactions within your chosen country. Laws are in a constant state of flux, and a specialist should have all the latest changes at their fingertips and are most likely to complete your property sale to your satisfaction.
However, just finding a property solicitor does not guarantee that they are good, or they have the experience you need. Here is a list of questions you should ask to gauge how well your property lawyer knows his market and how much (good) experience he has:
Global warming is causing ski resorts, particularly those below 1,500 metres, to reinvent themselves in order to survive. Statistics from the Swiss Association of Winter Sports Resorts shows that the average Swiss ski season has shortened by 12 days since 1995 – with the blame firmly being placed with global warming. Similar statistics are given by other country’s snow research centres – from Austria, to France to Morocco – snow cover is diminishing which in turn means shorter ski seasons which in turn means less tourists and income.
Buying abroad can be a really attractive investment option – not only can you potentially buy a really cheap property and have a secondary income through the rent, but you also hopefully have something which will greatly appreciate in value over the next few years or somewhere warm and sunny where you can retire and live like a king or queen.
However, you must take care when purchasing abroad lest you end up with a tax muddle. Many people who buy abroad are unaware that not only will they have to pay all the local taxes, they also have to pay tax in their resident country too.
When you have made the decision to buy abroad, it’s important to buy for the right reasons. Here are the top five factors you should consider before buying any property abroad.
1. Likeability
Obviously, you should buy something you like – it should be in a country you like, in an area you are happy with. Imagine the worts happens and your property has been burgled and you need to fly over late at night – if you don’t like the property, it will make the task of sorting the mess out so much worse. Also it is not a given that you will make money on your foreign property. If you buy something which has found a place in your heart, you will not be too upset if the place does not make you money, however if it does, the profit will be even more of a bonus.